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HAMP Application Activity by Servicer 1 As of June 2015 Servicer Name Bank of America, NA BankUnited Bayview Loan Servicing, LLC Carrington Mortgage Services, LLC CCO Mortgage, a division of RBS Citizens NA CitiMortgage Inc Green Tree Servicing LLC JPMorgan Chase Bank, NA Nationstar Mortgage LLC Navy Federal Credit Union Ocwen Loan Servicing, LLC OneWest Bank ORNL Federal Credit Union PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage6 Residential Credit Solutions, Inc. Select Portfolio Servicing, Inc. Specialized Loan Servicing LLC U.S. Bank National Association Wells Fargo Bank, NA Other Servicers7 TOTAL # Requests Received 2 5,778 27 1,759 691 476 5,071 1,373 5,916 8,141 151 12,091 162 4 121 14 415 632 4,606 3,315 1,123 6,970 58,836 Activity in June 2015 # Requests # Requests Processed 3 Approved 4 5,184 352 11 7 1,575 312 800 94 482 35 1,831 156 993 304 5,150 567 8,377 1,833 164 23 10,820 2,901 158 36 4 169 50 21 422 59 662 24 4,379 1,460 3,086 557 1,178 167 6,209 972 51,675 9,909 # Requests Denied 5 4,832 4 1,263 706 447 1,675 689 4,583 6,544 141 7,919 122 4 119 21 363 638 2,919 2,529 1,011 5,237 41,766 # Requests Received 2 1,470,389 10,094 60,426 90,677 34,751 606,247 110,418 1,818,162 529,062 13,211 1,501,076 386,493 680 22,508 1,255 46,542 38,618 241,478 86,248 145,110 1,516,243 170,842 8,900,530 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,436,897 584,099 9,769 4,846 57,310 16,729 90,234 25,721 34,272 6,532 583,710 192,267 107,364 42,185 1,772,153 450,687 520,424 110,130 13,029 2,331 1,452,100 454,224 386,202 103,281 680 56 22,126 6,175 1,198 61 46,483 28,492 38,352 4,828 218,596 116,258 81,735 14,981 144,189 45,966 1,489,575 437,879 170,842 106,111 8,677,240 2,753,839 # Requests Denied 5 852,798 4,923 40,581 64,513 27,740 391,443 65,179 1,321,466 410,294 10,698 997,876 282,921 624 15,951 1,137 17,991 33,524 102,338 66,754 98,223 1,051,696 64,731 5,923,401 This report is sourced from the Monthly Servicer Survey of select servicers participating in MHA under a Servicer Participation Agreement. All data present in this report reflects what is provided by servicers participating in the survey and is not separately validated by Treasury. Servicers regularly perform evaluation and refinement of reporting, which can lead to updating of Program-to-Date results. 1 In 2013, the Bureau of Consumer Financial Protection (CFPB) issued new mortgage servicing rules under the Real Estate Settlement Procedures Act (Regulation X). These rules, which became effective on January 10, 2014, may impact servicer processes for evaluation of requests for assistance under MHA. As a result, servicers’ reporting of Requests Received, Requests Processed, and Requests Denied (defined below) may include all mortgage modification requests. Previously, servicer reporting for these categories included only requests that met basic HAMP eligibility criteria. Due to the ongoing implementation of the mortgage servicing rules and refinement of reporting, some servicers have updated Program-to-Date results to better reflect HAMP Application Activity. From time to time, a servicer's current month's cumulative results may not equal the sum of that servicer's prior month's cumulative results and current month's activity; this may be due to servicing transfers or servicer corrections to prior reporting. Note that Requests Processed, Requests Approved, and Requests Denied in any given month may be related to Requests Received in prior months. "Requests Received" is the total number of mortgage modification requests received, as reported by servicers. Cumulative Requests Received include all mortgage modification requests received since implementation of Supplemental Directive 10-02, effective June 1, 2010, and any requests that were approved for a trial modification prior to implementation of such guidance. As noted in Footnote 1 above, some servicers may include all mortgage modification requests received, whereas they previously included only requests that met basic HAMP eligibility criteria. 2 3 "Requests Processed" is the sum of Requests Approved and Requests Denied, defined below. "Requests Approved" is the total number of mortgage modification requests approved for a trial modification under HAMP and trial offers sent to the borrowers, as reported by servicers. Note that all Requests Approved do not become Active Trials because some borrowers do not accept the trial or fail to make the first trial payment. 4 "Requests Denied" is the total number of mortgage modification requests not approved for a trial modification under HAMP and the decision communicated to the borrower by the servicer in accordance with program guidance, as reported by servicers. Cumulative Requests Denied include all mortgage modification requests denied and communicated to the borrower by the servicer since implementation of Supplemental Directive 10-02, effective June 1, 2010; servicers do not report Requests Denied prior to then as relevant data is incomplete. Figures include HAMP mortgage modification requests denied due to insufficient documentation, failure to meet basic eligibility criteria, and/or other reasons. 5 6 Formerly National City Bank. Includes servicers that are no longer actively participating in the survey process or those whose Servicer Participation Agreement has been terminated. These servicers no longer submit a survey, and their results only reflect previous periods when the survey questions were not as extensive as current surveys (e.g. #Requests Denied was not a component of earlier surveys). 7
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